New General Electric (NYSE:GE) CEO Larry Culp could receive $21.3M in annual compensation and earn shares valued at more than $200M if he manages to reverse the company’s deep stock slump, according to an SEC filing.
Culp will receive a $2.5M annual salary and is eligible for a $3.75M target bonus, an annual long-term incentive of $15M and a special stock grant, all dependent on performance goals.
The grant could total as many as 7.5M shares if the price closes on average at least 150% above its current level for 30 consecutive trading days before Sept. 30, 2022 - a block currently worth $95M that would soar to as much as $237M if the performance condition is met.
